Twins Announce Plans For A New Twins Ballpark

[TwinsFan]

Hennepin County and the Minnesota Twins announce plan for a new Twins ballpark in the historic Warehouse District
Ballpark development requires no state funding and $125 million cash contribution from the team

MINNEAPOLIS -- Hennepin County and the Minnesota Twins today announced a proposal to construct a new Twins ballpark development in the historic warehouse district of downtown Minneapolis, located at the Rapid Park site behind the Target Center.

The funding plan provides for a 42,000 seat ballpark, which will bring the thrill of watching professional baseball, up-close, in the great outdoors and on natural grass to Minnesota. Scheduled to open in 2009, the ballpark will be designed and built as one of America's premiere urban sports venues, with the best fan amenities, conveniences and comforts and will offer long-lasting benefits and enjoyment to Twins' fans in the state of Minnesota and Upper Midwest. While the Twins-Hennepin County agreement calls for construction of an open-air facility, the team continues to favor a retractable roof and believes the State of Minnesota can facilitate funding without using general funds.

Funding for the ballpark, estimated to cost $360 million, would come from $125 million cash contribution from the Twins and a Hennepin County-wide sales tax increase of a fifteenth of one percent (three cents on $20 or fifteen cents for every $100), excluding groceries, clothing or medical costs. The commitment from the Twins comes from $40 million in cash upfront and an additional $85 million paid prior to completion of the new ballpark facility.

In addition, the plan, which requires no state funding, calls for the Twins to assume all operation and maintenance costs, as well as any cost overruns on the ballpark. The Twins must also commit to a 30-year, no-escape use agreement. Additionally, should the Twins be sold prior to 2016, the public will share in the proceeds of the sale.

"Hennepin County has developed a ballpark plan that the state of Minnesota and Twins' fans throughout the Upper Midwest should be genuinely excited about," said Mike Opat, Hennepin County Commissioner. "We've talked about ballpark solutions for a long time without making progress. We are confident our plan can get the job done."

"This is a great day for Twins' fans," said Jim Pohlad, son of Twins owner Carl Pohlad. "Hennepin County has brought forth a plan ensuring generations of Minnesota Twins' fans will get to enjoy the thrill of watching their beloved team play in one of the best ballparks in all of Major League Baseball."

Located in the heart of Minneapolis' Warehouse and business districts, the Rapid Park site makes the new ballpark one the most accessible venues in America. Minnesota's new ballpark will represent the convergence point for the Hiawatha Light Rail line, the proposed Northstar Commuter Rail and the Interstate 394/94 exits into downtown Minneapolis. Already existing parking facilities provide for parking needs. Additionally, land adjacent the ballpark site will be developed for future mixed uses.

http://mlb.mlb.com/NASApp/mlb/news/p...=.jsp&c_id=min

[Lynch]

Well, steak passed some of this info on yesterday. Even though it's public now, I still don't buy it. I just don't see Pohlad spending any money of his own on this.


"The latest plan calls for a $125 million upfront contribution from Pohlad, a billionaire who has owned the team for two decades. Jerry Bell, Pohlad's longtime point man on stadium issues, said there are no restrictions on where that payment comes from -- meaning it could come from selling naming rights or other privately raised money. It must be paid by the time the ballpark opens.

Pohlad sidestepped questions about the source of his payment but said the public was getting a fair deal.

"With the substantial contribution we're making, I don't know how they can say no," Pohlad said of lawmakers.

The total project cost is estimated at $478 million, if roadwork, site preparation and other infrastructure improvements are factored in."

$125 mill right off the top out of Tightass Carl's pocket!? Phfttt.. No way. If he does, I'll ease up on him a bit, but until ground breaking has commenced and I see that he indeed has opened up the wallet, I still don't believe he'll do it.

[Steak]

I have a feeling that Carl is serious this time around.

Oh and if this new park somehow exist, the name should be Carl Pohlad Park or Pohlad Field.

[Lynch]

I'm more of a fan of Killebrew Park, but it won't be named after anyone. Highest bidding advertiser will get the name, so it'll be something stupid like Amoco Field or General Mills Park or some crap like that.

[Steak]

I don't think it will be a corporate name. Just my gut. We will see.